Enap Tests Dorado-Riquelme Gas Discovery

Chile's state oil company Enap has tested its Palenque 1 well on the Dorado-Riquelme block in southern region XII at a rate of 80,000m3/d, the company said in a statement.

The company carried out production tests on three reservoirs located at 800-1,000m depths.

Palenque 1 is the second well drilled as part of the block's exploratory program based on 1,800 sq km of 3D seismic data. Drilling began in February.

The company will continue tests on the Palenque 1 well and prepare the area to drill Palenque 2.

Enap has known about sizable gas reserves in Magallanes for decades, but only now has the price of gas risen high enough to make E&P in the region feasible.

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